Compliance Support

Qwrk Outsourcing’s (formerly SMSF Paraplanners) reputation for quality starts with the foundation of compliance.

Qwrk Outsourcing’s compliance team upholds the integrity of Financial Planner’s advice, by ensuring its strict compliance with the regulatory requirements of the Australian financial services industry through a thorough audit of all Statement of Advice (SOA) and Record of Advice (RoA) documents (SOA/ROA), along with all supporting file documents.

Qwrk Outsourcing’s compliance team is one of the most experienced outsourced compliance teams in the Industry. With a combined experience of over 20 years, the team offers a range of services internally to the Qwrk Outsourcing paraplanning team as well as to financial planning practices directly.

Qwrk Outsourcing provides Part time Practice Compliance Officers who will:

• Pre- vett advice documentation, prior to advice being delivered.
• Complete whole client file checks, at the end of the advice process against a specified checklist. This ensures Best interest duty requirements have been demonstrated and the file can tell a story on its own.
• Provide remediation actions on file checks to ensure the practice compliance standards are upheld.
• Ensure consistency with licensee/s and practice/s’ quality and standards by promoting a positive culture of compliance support to the practice.

Qwrk Outsourcing’s Internal Compliance team services include:

• Proactively and constructively work with Paraplanners to ensure all SoA and RoA documents produced, demonstrate that the advice is in the best interest of the clients.
• Proactively and constructively work with Financial Planning practices to ensure all client files tell the client’s story, again, clearly demonstrating best interest duty and safe habour steps.
• Keeping up to date with any legislative and licensee policy updates and ensuring this information is passed on to relevant parties to make sure our internal paraplanning team and the Financial Planning advice practice are able to stay up to date on implemented changes.
• Ensure consistency with licensee/s and practice/s’ quality and standards by promoting a positive culture of compliance support to the Paraplanners and to our practice/s.